7th Nov 2014 USD/JPY Analysis


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dollar, Yen, USD/JPY outlook, USD/JPY technical analysis, USD/JPY Forecast, Japanese Yen, USDJPY analysis, USDJPY outlook, USDJPY technical analysis, USDJPY analysis, USDJPY forecast, USD/JPY analysis, Bank of Japan, BOJ, Kuroda, Haruhiko Kuroda, Shinzo Abe, U.S Dollar, USD, Abenomics A fall below 114.24 is likely to return to bearish movements intraday as per yesterday’s pattern, while a break through of 115.5 will resume normal business for this pair as the fundamentals weigh heavily.

A bullish breakthrough today of 115.5 will likely extend gains for USD/JPY towards 116.8 levels with analysts forecasting 125.00 levels. A intraday fall due to technical resistance saw support formed at 114.2 before rebounding above 115 levels again. The U.S Non Farm Payrolls today is likely to boost USD/JPY rates higher, if final figures turn out to be better than estimates.

Trend Direction
S3
S2
S1
R1
R2
R3
Entry
Stop Loss
Exit
 Slight Bullish 113.25114.24 14.8115.5115.82 116.8 114.2 114.68 113.6

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